Grow Light Market to Reach $4.19B in 2022

The firm found that the annual compound growth rate (CAGR) from this year to 2022 will be 9.63 percent. Drivers include the resurgence of vertical farming and the legalization of marijuana in North America. LEDs are expected to be the type of light used by in the segment. Its predominance is due to its energy efficiency, long life and the capability varying the spectrum used. Europe is expected to be the leading region for grow lights during the period of the survey.